Back in August 2023, amid the hype surrounding artificial intelligence (AI) assistants and crypto trading, Finbold utilized Google Bard (forerunner of Google Gemini) to create a $100 crypto portfolio for beginner investors.
With the cryptocurrency market constantly evolving, let’s revisit this hypothetical portfolio and see how those investments would have performed by today.
Bitcoin (BTC)
Bitcoin (BTC), the leading cryptocurrency, has seen a significant surge in value since August 2023.
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At press time, it’s trading at a staggering $72,011, reflecting a remarkable 147.23% increase compared to its price of $29,127 back in August.
This impressive growth translates to nearly a $43,000 increase in value from eight months ago.
The recent upswing adds to a positive trend, with Bitcoin gaining over 3.9% across the past week and 5.2% over the last month, solidifying its position as a dominant force in the cryptocurrency market.
Ethereum (ETH)
Ethereum, the second-largest cryptocurrency, has shown a more moderate growth trajectory compared to Bitcoin since August 2023.
Currently priced at $3,618, it represents a significant increase of 97.23% from its August price of $1,835.
While this is impressive growth, it falls short of Bitcoin’s staggering gains. However, Ethereum’s recent performance suggests some positive momentum. It’s up over 6.8% in the last day and nearly 2% across the past week.
However, a slight dip of 7.67% over the last month shows some short-term variability.
Cardano (ADA)
Cardano, the blockchain platform aiming to be a more energy-efficient alternative, has exhibited a contrasting performance since August 2023.
While still up compared to its August price of $0.295, Cardano’s current price of $0.6089 reflects a more modest increase of 106.41%. This trails behind the impressive gains of Bitcoin and Ethereum.
However, it’s important to consider the recent downward trend. Cardano has dipped over 3% in the last day, nearly 4% across the week, and a more significant 16.37% over the past month.
Solana (SOL)
Solana‘s recent price movements show a 1.69% increase in the last 24 hours, a 6.73% drop in the previous seven days, and a 24.46% gain over the past month, currently trading at $183.20.
Compared to its value in August 2023 at $22.71, this represents a staggering 706.69% increase.
Polygon (MATIC)
Polygon (MATIC), the network known for facilitating faster and cheaper Ethereum transactions, has shown a moderate increase since August 2023.
Its current price of $0.935 represents a growth of 38.72% compared to its August price of $0.674. While this increase is positive, it falls short of the explosive gains seen in other cryptocurrencies. It’s also important to consider Polygon’s recent volatility.
Despite the daily increase of 3.36%, it experienced a weekly decline of 3.24% and a more substantial monthly loss of 19.27%.
The Sandbox (SAND)
Finally, The Sandbox‘s native token, SAND, has seen a moderate increase since August 2023.
Currently priced at $0.6398, it reflects a growth of 56.43% compared to its August price of $0.409.
This trails behind the significant gains of other cryptocurrencies mentioned previously. However, SAND isn’t without its recent struggles.
It has experienced a slight decline in the past week, dropping 3.63%, and a more substantial decrease of 12.51% over the past month.
Conclusion
Our revisit to Bard’s $100 crypto portfolio, divided equally among six assets in August 2023, paints a fascinating picture of the cryptocurrency market’s potential and pitfalls.
With a hypothetical increase of 191.93% by April 8, 2024, this portfolio demonstrates the power of diversification. So, the portfolio originally worth $100 would be now around approximately $291.93.
While high performers like Solana fueled significant growth, the more modest gains of Cardano showcase the importance of spreading your investment across various cryptocurrencies.
However, this example also serves as a stark reminder of the market’s volatility. Despite the positive returns here, future results can be unpredictable.
Remember, thorough research and a cautious approach are essential before investing in any cryptocurrency.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
